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Sorry, didn't phrase that well, but it still comes from our taxes
Pardon as I understood your context and validity. The Senior elder DID pay in during the working years to societys' programs. They now get to be a participant .
I'm still perplexed on one statement....that living assistant insurance has a diaqualifier. That makes zero sense. The reason for being in a long term care place usually involves some level of medical pre existing condition.
Pardon as I understood your context and validity. The Senior elder DID pay in during the working years to societys' programs. They now get to be a participant .
I'm still perplexed on one statement....that living assistant insurance has a diaqualifier. That makes zero sense. The reason for being in a long term care place usually involves some level of medical pre existing condition.
I
As long as you meet the asset and income level requirements you do get Medicaid ....the discussion is about when you are not at those levels
I'm still perplexed on one statement....that living assistant insurance has a disqualifier. That makes zero sense. The reason for being in a long term care place usually involves some level of medical pre existing condition.
Well, they want to accept people with a likelihood of paying premiums for a long time before needing LTC. DH was 15 years older than I and had some chronic health problems; a member of our church who sold LTC said that he could probably get me a policy but not DH because DH was more likely to go "on claim" within a few years. (DH died without ever seeing the inside of a nursing home. Oh, well.)
To get back to the OP: my Aunt and Uncle live/lived in Ohio. They had a decent amount of money Aunt inherited from her family but over the years they'd given a lot to their kids for weddings, private school for the grandkids, etc. Their modest house was paid off. Uncle was diagnosed with Alzheimer's about 10 years ago. Aunt took care of him at home as long as she could but he occasionally got violent and she was sleeping in a recliner in the living room so he wouldn't go out and wander at night.
They did consult an Eldercare attorney and Uncle ended up in a decent facility with the agreement that they'd pay till they spent down to the max Medicaid would let her keep. He was immediately placed in a "Medicaid bed"- a semi-private room with only a curtain separating him from his roommate. (Their rationale is that a Medicaid bed might not be available when you actually need to rely on Medicaid.) When I visited from several states away, she told me she was losing sleep over the costs- $6K/month- and her dwindling assets. Just before he was about to go on Medicaid they jacked up the rates to an unconscionable level and she moved him to another place, where he died a couple of months later. Aunt is developing macular degeneration. I sure hope her kids take care of her. And that is why I'm unlikely to remarry unless the guy is loaded.
As for Medicaid being an "entitlement"- I refer to it as "needs-based". For SS and Medicare you pay in, and when you meet the age and any other criteria you sign up. That's eroded somewhat with IRMAA surcharges to Medicare premiums and taxation of SS, but you don't have to show you're poor to be eligible. Medicaid is for the indigent. I am doing everything I can to avoid it.
I don't think I could put my spouse in the situation of having a miserable life in order to keep me, who is no longer me anyway, alive. I hope that I would have the sense before then to go suck some carbon monoxide.
Quote:
Originally Posted by TwoByFour
Medicaid? There would be no Medicaid. I would be six feet under the dirt rather than rotting away in LTC.
What makes you think that you'd have the time and/or ability to do that? It's not as if your doctor or someone else is going to be able to tell you that "you are going to have a debilitating stroke a week from next Wednesday that will result in you being institutionalized, so if you'd rather commit suicide, do it in the next couple of days."
We have a great New York State partnership plan for long term care ....we took 3 years insurance and now all assets are protected ..there is no look back , no trusts , no nothing needed ..plus the stay at home spouse is allowed unlimited income ....a special version of Medicaid was created to pay the bills after the 3 years insurance was up with no financial restrictions ...
Only New York and I think Illinois offer total asset protection in their partnership plans .....every place else that has partnership plans is a dollar for a dollar ...if Medicaid spends 200k on care then 200k in assets are protected....New York offers a cheaper dollar for a dollar plan too but we opted for the more expensive total asset protection plan
Do you know if Texas has such a plan? How would I look it up? What would it be called -generically-total asset protection, partnership plan for LT care.... perhaps I just answered my own question! However, as usual, I always appreciate Mathjak's advice
I can't add any new advice, the others have given the correct advice. You need to see an attorney and get wills drawn up and possibly have your money put in a trust. I would pay a local attorney who specializes in elder law.
What makes you think that you'd have the time and/or ability to do that? It's not as if your doctor or someone else is going to be able to tell you that "you are going to have a debilitating stroke a week from next Wednesday that will result in you being institutionalized, so if you'd rather commit suicide, do it in the next couple of days."
Life doesn't work that way.
DH had hinted that if he showed signs of developing Alzheimer's (which his mother had before she died), he'd be tempted to exit gracefully under his own terms. It never came to that since he died of leukemia.
DH had hinted that if he showed signs of developing Alzheimer's (which his mother had before she died), he'd be tempted to exit gracefully under his own terms. It never came to that since he died of leukemia.
My late husband died almost immediately at age 49 from one of those "widow maker" heat attacks. A year prior to his death he watched his father die a fairly long difficult death following a stroke. After my FIL's funeral my husband asked me to do with whatever power I had prevent him of having a similar death as his father because he wanted to go as quick as possible. Well, he got his wish with no intervention on my part. Had the situation been different I would have done the best I could to honor my husband's wishes, but thankfully I never had to make those difficult decisions for him as I had to several years later for my father which for me were agonizing.
It is rare indeed to have our lives as well as our deaths turn out the way we expect them to.
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perhaps I just answered my own question! However, as usual, I always appreciate Mathjak's advice
